Short Interest in Agree Realty Corporation (NYSE:ADC) Drops By 56.1%

Agree Realty Corporation (NYSE:ADC) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 6,204,593 shares, a decline of 56.1% from the August 15th total of 14,129,405 shares. Currently, 5.1% of the shares of the company are short sold. Based on an average daily trading volume, of 1,701,504 shares, the days-to-cover ratio is presently 3.6 days.

Insider Buying and Selling

In related news, Director John Rakolta, Jr. bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were bought at an average cost of $73.23 per share, with a total value of $1,464,600.00. Following the acquisition, the director owned 622,061 shares in the company, valued at $45,553,527.03. This trade represents a 3.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Agree Realty

Several hedge funds have recently modified their holdings of ADC. BlackRock Inc. acquired a new stake in shares of Agree Realty during the 2nd quarter valued at about $1,447,551,000. Cohen & Steers Inc. boosted its position in Agree Realty by 4.8% during the fourth quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust’s stock worth $1,015,324,000 after purchasing an additional 649,301 shares in the last quarter. California State Teachers Retirement System boosted its position in Agree Realty by 7,473.6% during the second quarter. California State Teachers Retirement System now owns 10,617,309 shares of the real estate investment trust’s stock worth $804,155,000 after purchasing an additional 10,477,120 shares in the last quarter. State Street Corp grew its holdings in Agree Realty by 1.6% in the fourth quarter. State Street Corp now owns 5,884,291 shares of the real estate investment trust’s stock valued at $425,350,000 after purchasing an additional 91,766 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Agree Realty by 5.4% in the first quarter. Principal Financial Group Inc. now owns 4,526,088 shares of the real estate investment trust’s stock valued at $341,180,000 after purchasing an additional 232,532 shares during the period. 97.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ADC shares. Robert W. Baird set a $83.00 target price on Agree Realty in a research report on Friday, July 31st. Wall Street Zen downgraded Agree Realty from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Weiss Ratings raised Agree Realty from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 25th. Huntington assumed coverage on shares of Agree Realty in a report on Wednesday, July 15th. They issued an “outperform” rating and a $84.00 target price for the company. Finally, Barclays boosted their price target on shares of Agree Realty from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.94.

Agree Realty Stock Down 1.0%

NYSE:ADC traded down $0.72 during trading hours on Monday, reaching $70.51. The company’s stock had a trading volume of 334,320 shares, compared to its average volume of 1,272,000. The stock has a 50 day moving average price of $76.05 and a two-hundred day moving average price of $76.41. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $8.77 billion, a P/E ratio of 37.92, a price-to-earnings-growth ratio of 2.33 and a beta of 0.46. Agree Realty has a 12 month low of $69.56 and a 12 month high of $82.08.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). The company had revenue of $216.33 million during the quarter, compared to analysts’ expectations of $204.53 million. Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.06 earnings per share. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. Equities analysts predict that Agree Realty will post 4.45 EPS for the current fiscal year.

Agree Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.267 per share. The ex-dividend date is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. Agree Realty’s dividend payout ratio (DPR) is presently 172.04%.

Agree Realty Company Profile

Agree Realty Corporation (NYSE: ADC) is a real estate investment trust that owns, develops, acquires and manages retail properties. The company primarily invests in freestanding, net-leased properties occupied by nationally recognized and regionally established retailers.

Under a net lease, tenants generally pay expenses such as property taxes, insurance and maintenance in addition to rent. Agree Realty’s portfolio is focused largely on essential retail locations, including stores serving everyday consumer needs.